Common use of Hazard and Rental Income Insurance Clause in Contracts

Hazard and Rental Income Insurance. During the Lease Term, Landlord shall maintain policies of insurance at Tenant's expense, covering loss of or damage to the Property in the full amount of its replacement value. Such policies shall provide protection against all perils included within the classification of fire, extended coverage, vandalism, malicious mischief, special extended perils (all risk), sprinkler leakage, earthquake sprinkler leakage, and inflation guard endorsement, and any other perils (except flood and earthquake, unless required by any lender holding a security interest in the Property) which Landlord deems necessary. Landlord may, but is not obligated to, obtain insurance coverage for Tenant's fixtures, equipment or building improvements installed by Tenant in or on the Property. Tenant shall, at Tenant's expense, maintain such primary or additional insurance on its fixtures, equipment and building improvements as Tenant deems necessary to protect its interest. During the Lease term, Landlord shall also maintain a rental income insurance policy at Tenant's expense with loss payable to Landlord in an amount equal to one year's Base Rent, Operating Expenses for one year, estimated real property taxes and insurance premiums. Tenant will not be named in any such policies carried by Landlord and shall have no right to any proceeds therefrom. Tenant shall not do or permit to be done anything which invalidates any such insurance policies.

Hazard and Rental Income Insurance. During the Lease Term, Landlord shall maintain policies of insurance at Tenant's expense, covering loss of or damage to the Property in the full amount of its replacement value. Such policies shall provide protection against all perils included including within the classification of fire, extended coverage, vandalism, malicious mischief, special extended perils (all risk), sprinkler leakage, earthquake sprinkler leakage, and inflation guard endorsement, and any other perils (except flood and earthquake, unless required by Landlord or any lender holding a security interest in the Property) which Landlord landlord deems necessary. Landlord may, but is not obligated to, obtain insurance coverage for Tenant's fixtures, equipment or building improvements installed by Tenant in or on the Property. Tenant shall, at Tenant's expense, maintain such primary or additional insurance on its fixtures, equipment and building improvements as Tenant deems necessary to protect its interest. During the Lease termTerm, Landlord shall also maintain a rental income insurance policy at Tenant's expense expense, with loss payable to Landlord and mortgagee in an amount equal to one year's Base Rent, Operating Expenses for one year, estimated real property taxes and insurance premiums. Tenant will not be named in any such policies carried by Landlord and shall have no right to any proceeds therefrom. Tenant shall not do or permit to be done anything which invalidates any such insurance policies.

Hazard and Rental Income Insurance. During the Lease Term, Landlord shall maintain policies of insurance at Tenant's expense, covering loss of or damage to the Property in the full amount of its replacement value. Such policies shall provide protection against all perils included within the classification of fire, extended coverage, vandalism, ; malicious mischief, special extended perils (all risk), sprinkler leakage, earthquake sprinkler leakage, and inflation guard endorsement, and any other perils (except flood and earthquake, unless required by any lender holding a security interest in the Property) which Landlord deems necessary. Landlord may, may but is not obligated to, obtain insurance coverage for Tenant's fixtures, equipment or building improvements installed by Tenant in or on the Property. Tenant shall, at Tenant's expense, maintain such primary or additional insurance on its fixtures, equipment and building improvements as Tenant deems necessary to protect its interest. During the Lease termTerm, Landlord shall also maintain a rental income insurance policy at Tenant's expense expense, with loss payable to Landlord in an amount equal to one year's Base Rent, Operating Expenses for one year, estimated real property taxes and insurance premiums. Tenant will not be named in any such policies carried by Landlord and shall have no right to any proceeds therefrom. Tenant shall not do or permit to be done anything which invalidates any such insurance policies.